Frequently asked questions
Everything about wine Collecting
How Much Do I Need To Start A Collection?
The amount of money a wine collector would typically spend on each trade will vary depending on their own personal level of financial comfort. The cost of collecting grade fine wine in terms of branding and acclaim can in our experience range from a thousand pounds a case to many, many thousands a bottle. A typical comfortable first trade for many customers will range between £5,000.00 to £10,000.00
How Long should a collector own wine before they sell it?
Instruction to sell is down to an individual collector's circumstances, targets and wishes. We would not recommend a short term hold, Much of the wine we currently sell was purchased by our customers in 2016 and before. An individual wine can have a successful year and be stagnant the following year. We believe a hold term of five years should cover a variety of market conditions and yield some real success.
What Are The Fee’s Involved?
As an established wine merchant we do not charge additional contractual fees for buying or selling your wine. When we present you with an offer the price quoted is the full and final payment. When we buy your wine from you, the same principle applies and the value stated on the Purchase Order is the full amount you receive. The greater our turnover, the better we do. We believe the better our service and performance, the greater our turnover.
Your wine will be stored in an independent and recognised storage provider. Storing wine in Bond occurs a yearly storage fee and sometimes a one off administration fee for new accounts. Please see our section on wine storage for further information or contact us directly.
Is My Wine Insured?
Some recognised wine storage providers offer insuring the wine at current market value included in the yearly fee they charge. Some do not and can advise on specialised insurance providers. We are happy to provide information on which storage providers specialise in wine, what their current charges and costs are and if they provide insurance.
Where Is My Wine Stored?
We recommend our customers store their wine in an independent, HMRC sanctioned Bonded Warehouse. We are happy to advise you on some warehouses services and fees. The warehouse will provide you with your own private account number and each time wine is transferred to your account they will issue you with a unique rotation number allocated to your wine. We strongly believe this is the safest and most secure way for collectors to keep their wine. Clients of warehouses receive stock lists, can request condition reports and can visit the facilities with prior arrangement with them.
How Do You Select The Wine?
The fine wine market has a history of performance. This performance can be studied and you can observe particular patterns of buying habits in the market place. These patterns in the market or high performing wines are typically belonging to historical established brands, particular vintages and wine receiving high critical acclaim. Our team will be happy to discuss your needs with you and introduce wines to you as portfolio options.
How many bottles are in a case of wine?
A standard case of wine will hold 12x75cl bottles. Some cases may hold less bottles with the same amount of overall liquid, for example a case of 6 magnums (150ml bottles) yields the same amount of drink. Some producers will offer cases which contain 6 bottles, 3 bottles and sometimes a single bottle in OWC. Your invoice should always state the volume of wine that you are purchasing.
Why buy through Ideal Wine Company LTD?
Ideal Wine Company LTD is an established company founded in 2011 and we pride ourselves on providing long standing relationships with our customers. We are a family run business with an experienced team of buyers and market analysts. Our aim is for our customers to experience a reliable trustworthy service. We are audited, registered and GDPR compliant. Our reputation has been formed through hard work, availabilty and the successful sales made on behalf our clients.
Why collect wine?
Fine wine is an attractive option for collectors and investors alike. Performance is historically strong with reduced levels of volatility. As a real asset, fine wine offers diversification from traditional markets while providing the collector tax free potential.
Do we buy wine from collectors?
Yes. As an established merchant, the large majority of stock we sell is stock belonging to customers. Many cases have had numerous owners up till when they are delivered out of bond for the consumption market. If you would likes us to value the wine you currently store or would like to sell some wine, please feel free to contact us.
How to sell a case of wine?
Once you have agreed a sale price with us, you will receive a purchase order and stock transfer form. When we have received a copy, we will scan the copies and email the warehouse. Once the wine is transferred into our account at the bonded warehouse, you will then receive funds via cheque or bank transfer.
What is the current tax status of fine wine?
Wine with a useful life span of under 50 years is considered to be a "wasting asset" and would not be taxable under Capital Gains Tax regulation in the UK. Legislation regarding to capital gains exemptions on wasting assets has remained unchanged since 1992.
What are the costs involved with selling wine?
When selling through us, we will offer a flat price. There will be no extra charges involved. Merchants such as Ideal Wine Company make their costs and profits via turnover. The cost of storing your wine on an annual basis is approximately £1.50 per bottle depending on your choice of warehouse.
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